At DBMR, we are continuously striving to become one of the most trusted companies in the world, uniquely positioned to provide emerging healthcare technology market intelligence solutions and market research reports for- Medical Devices, Healthcare IT & Services, Life Sciences & Biotech, and Emerging Healthcare Technologies, covering the entire industry spectrum.

Market Analysis: Global Vascular Closure Device Market

Global vascular closure device market is registering a substantial CAGR of 7.79% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market can be attributed to the surging preferences towards the non-invasive procedures with new and upgraded technological developments in medical imaging which is expected to grow the market of vascular closure devices.

Market Definition: Global Vascular Closure Device Market

Vascular closure device is a piece of collagen or suture which is designed for sealing of puncture made in the artery after an angiogram. This device is used by the specialist doctors. It has no after or side effects on the body of the patient. The insertion process of VCDs approximately takes 5 minutes. It reduces the recovery time after the surgical procedure. It has also improved patient satisfaction. It has a high efficiency rate as compared to traditional methods. Its main purpose is to make availability of rapid hemostasis of the artery as well as reduce complications.

Market Drivers

The vascular closure devices approvals number has surged which is driving the growth of the market

The cardiovascular disease has high prevalence is boosting the growth of the market

Surging prevalence of obesity is propelling the growth of the market

The rising focus of market players on large-bore vascular closure devices is fueling the growth of the market

The rising demand for minimally invasive solutions is contributing to the growth of the market

Market Restraints

The rising preference for interventional procedures using radial artery access is restraining the growth of the market

The cost of vascular closure devices is much higher which hinders the market growth

The failures and recalls of the product is hampering the growth of the market

Segmentation: Global Vascular Closure Device Market

By Type

Passive Approximators

Collagen Plugs

Sealant or Gel-Based Devices

Compression Assist Devices

Active Approximators

Suture-Based Devices

Clip-Based Devices

External Hemostatic Devices

BY Access

Femoral Access

Radial Access

By Procedure

Interventional Cardiology

Interventional Radiology/Vascular Surgery

By Distribution Channel

Direct Tenders

Retail

By Application

Diagnostic Intervention

Therapeutic Intervention

BY End User

Hospitals and Clinics

Specialty Centers

Ambulatory Surgery Centers

Others

By Geography

North America

U.S.

Canada

Mexico

South America

Brazil

Rest of South America

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Turkey

Belgium

Netherlands

Switzerland

Rest of Europe

Asia-Pacific

Japan

China

South Korea

India

Australia

Singapore

Malaysia

Indonesia

Thailand

Philippines

Rest of Asia-Pacific

Middle East and Africa

South Africa

Rest of Middle East and Africa

Key Developments in the Market:

In March 2018, Terumo Corporation has announced that it is acquiring the large bore vascular closure device business of Medeion Biodesign Inc. This acquisition will expand the business of Terumo Corporation as well as its share in the market in this fast growing segment.

In January 2017, Terumo Corporation had acquired some of the assets which are owned by Abbott and St. Jude Medical. It has acquired vascular closure product lines of Angio-Seal and FemoSeal. This acquisition will expand the product lines of the company will increase the sales of the company.

Competitive Analysis:

Vascular closure device market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares vascular closure device market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Research Methodology: Global Vascular Closure Device Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.